Australia's GrainCorp gains; Jefferies raises PT on upbeat outlook

Graincorp

15/09/2025 01:38

Updates

** GrainCorp GNC.AX rises as much as 1.6% to A$8.69; marks largest intraday pct jump since September 4

** Stock hits highest since September 8; among top movers on benchmark .AXJO

** Jefferies upbeat on co; projects higher 2025-2026 winter crop production

** Raises PT to A$9.70 from A$9.20; maintains "buy"

** Says Australia's 2025-2026 winter crop production outlook to rise 2% to 62 mln metric tons, third highest on record

** Expects 32% rise in FY26 EBITDA for co's agribusiness division

** However, trims FY26 EBITDA for oilseeds processing division by 17% on weaker crush margins

** Raises FY25-FY26 EPS targets by 3% and 25%, respectively; lowers FY27 EPS target by 6%

** YTD, GNC gains 18.1%

 (Reporting by Ananya Verma and Nikita Maria Jino in Bengaluru)

 ((ananya.verma@thomsonreuters.com;))